REC is likely to lend Rs 2,167 crore to Maharashtra State Electricity
Transmission Company (MSETCL) for four transmission projects in Maharashtra.
On 30 December 2009, the company's board approved the sanction of loan
assistance for four transmission projects (for evacuation of power from new
generation projects).
These sanctions are reportedly in line with an MOU executed in August 2009,
between REC and MSETCL. According to the MoU, REC will provide financial
assistance to the tune of Rs 4,000 crore over a period of three years.
MSETCL intends to establish a huge transmission network with transmission
capacity of 30,000 to 35,000 MW by 2012.
Also See:
REC
invites bids from consultants (21-Dec-09)